Six Flags Amends Cooperation Agreement with H Partners

Rhea-AI Summary

Six Flags Entertainment Corporation (NYSE: SIX) has amended its Cooperation Agreement with H Partners, allowing H Partners to increase its stake in the company from 14.9% to 19.9%. The partnership is aimed at enhancing value for shareholders, with management making progress in its long-term growth strategy. Non-Executive Chairman Ben Baldanza emphasized H Partners' constructive role, while H Partners' director Arik Ruchim expressed optimism about the company's guest experience and earnings growth strategy.

Positive

• H Partners increases ownership stake to 19.9%, indicating confidence in Six Flags' potential.
• Management is making progress in long-term earnings growth strategy.

Negative

• None.

ARLINGTON, Texas--(BUSINESS WIRE)-- Six Flags Entertainment Corporation (NYSE: SIX), the world’s largest regional theme park company and the largest operator of waterparks in North America, today announced that the company and H Partners agreed to amend their existing Cooperation Agreement to permit H Partners to increase its beneficial ownership of Six Flags common stock to 19.9%, up from a cap of 14.9% in the original agreement.

“H Partners has been a constructive and important partner to the company. We are pleased they continue to recognize the value potential of Six Flags and the progress management is making for our shareholders,” said Ben Baldanza, Non-Executive Chairman of the Board.

“We are excited about the company’s strategy to deliver an exceptional guest experience and to drive sustainable, long-term earnings growth,” said Arik Ruchim, a Partner at H Partners and director on the Six Flags Board. “We believe that meaningful change takes time to implement, and we are encouraged by the early signs of progress on this ambitious journey.”

About Six Flags Entertainment Corporation

Six Flags Entertainment Corporation is the world’s largest regional theme park company with 27 parks across the United States, Mexico and Canada. For 61 years, Six Flags has entertained hundreds of millions of guests with world-class coasters, themed rides, thrilling waterparks and unique attractions. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. For more information, visit www.sixflags.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221110005617/en/

Stephen Purtell

Senior Vice President

Corporate Communications, Investor Relations and Treasurer

+1-972-595-5180

investors@sftp.com

Source: Six Flags Entertainment Corporation

FAQ

What change has Six Flags Entertainment Corporation made regarding H Partners' ownership?

Six Flags has amended its Cooperation Agreement with H Partners to allow an increase in their ownership stake from 14.9% to 19.9%.

What is the significance of H Partners increasing its stake in Six Flags?

The increase to 19.9% reflects H Partners' confidence in the value potential of Six Flags and supports management's growth efforts.

Who commented on the amended agreement between Six Flags and H Partners?

Ben Baldanza, Non-Executive Chairman, and Arik Ruchim, a partner at H Partners, commented on the partnership and its implications for company growth.

What is Six Flags' strategy for earnings growth?

Six Flags is focused on delivering an exceptional guest experience and driving sustainable, long-term earnings growth.